Senator Juan Edgar “Sonny” Angara is confident the proposed law, which is now up for third and final reading in the Senate, will be signed by President Rodrigo Duterte by December.
“We give to private sector the power to import rice since only NFA
(National Food Authority) and few traders are in control of rice importation.
This measure will not allow the big traders to dictate the price of rice,”
Angara told reporters.
The law will ensure stable supply of rice in the market and
generate more taxes from rice imports, Angara said. The Senate has started the
interpolation of Senate Bill No. 1998 on September 19.
The proposed bill replaces the quantitative import restriction on
rice with tariffs and lifts the quantitative exports restrictions on rice.
The measure has been certified as urgent by President Rodrigo
Duterte in his recent State of the Nation Address.
Senator Grace Poe, in a separate interview, said since rice
tariffication will affect local producers, the bill has placed some safety nets
to minimize losses among farmers.
“Collections from rice tariffs can be used as financial assistance
to farmers’ groups for the procurement of seedlings, fertilizers, pesticide,
and other production support needs,” Poe told reporters.
A key feature of the bill is the creation of the Rice
Competitiveness Enhancement Fund or the Rice Fund with an initial appropriation
of PHP10 billion sourced from the national budget until such time there is
enough collection from tariff.
The two senators were in this city Friday to join the 10th
Oktubafest, the showcase of best local wine known as “tuba” (coconut wine).
The festival is the local version of the German beer fiesta known
as “Octoberfest.” Thousands of tuba producers, officials, and students gathered
at the City’s Astrodome for the annual event organized by An Waray Partylist. (SQM/PNA)
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